Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,975 shares of the semiconductor company’s stock after selling 800 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.05% of Cirrus Logic worth $3,060,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new stake in shares of Cirrus Logic during the first quarter worth $27,000. Covington Capital Management increased its stake in Cirrus Logic by 100.0% in the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 200 shares in the last quarter. Denali Advisors LLC raised its holdings in Cirrus Logic by 33.3% during the 4th quarter. Denali Advisors LLC now owns 400 shares of the semiconductor company’s stock worth $30,000 after buying an additional 100 shares during the period. Altshuler Shaham Ltd purchased a new stake in Cirrus Logic during the first quarter valued at about $32,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Cirrus Logic in the first quarter worth about $35,000. Institutional investors and hedge funds own 90.18% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $82.92 on Monday. Cirrus Logic, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $111.15. The stock’s 50-day moving average is $79.97 and its two-hundred day moving average is $86.86. The firm has a market cap of $4.54 billion, a P/E ratio of 31.17, a PEG ratio of 12.93 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.12 by $0.23. The business had revenue of $317.02 million during the quarter, compared to analysts’ expectations of $290.58 million. Cirrus Logic had a return on equity of 16.18% and a net margin of 8.38%. As a group, research analysts expect that Cirrus Logic, Inc. will post 4.03 EPS for the current year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 950 shares of Cirrus Logic stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $80.00, for a total value of $76,000.00. Following the completion of the sale, the vice president now owns 6,555 shares of the company’s stock, valued at approximately $524,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.89% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CRUS shares. Susquehanna boosted their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company a “positive” rating in a report on Friday, August 4th. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and cut their target price for the company from $92.00 to $80.00 in a research note on Monday, May 22nd. Bank of America raised their target price on Cirrus Logic from $75.00 to $80.00 in a research report on Friday, August 4th. Finally, StockNews.com assumed coverage on Cirrus Logic in a research report on Sunday, August 20th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.00.

Cirrus Logic Company Profile

Cirrus Logic, Inc engages in the development of mixed-signal processing solutions. Its product lines include audio and High-Performance Mixed-Signal (HPMS) products. It operates through the following geographical segments: China, Hong Kong, Vietnam, South Korea, India, United States, and Rest of World.